Daijiworld Media Network - Mumbai
Mumbai, Aug 11: All Time Plastics Ltd.'s initial public offering (IPO) has been subscribed 1.57 times so far on its final day of bidding, showing strong investor interest. The book-built issue, valued at Rs 400.6 crore, saw subscriptions of 1.02 times on the second day and 0.29 times on the first day.
The IPO comprises a fresh issue of 1.02 crore shares worth Rs 280 crore and an offer for sale of 44 lac shares valued at Rs 120.6 cr. The company is a prominent manufacturer of plastic houseware products, with Swedish furniture giant Ikea among its major clients. Alongside supplying consumerware to other brands, it also sells products under its own label, All Time Branded Products.
Funds raised through the IPO will partly be used to repay or prepay existing borrowings, with the balance allocated to general corporate purposes.
Subscription breakdown as of day 3 (10:12 am, Aug 11):
• Qualified Institutional Buyers: 0.38 times (38%)
• Non-Institutional Buyers: 1.58 times
• Retail Investors: 2.22 times
• Employee Portion: 4.14 times
The grey market premium (GMP) stood at Rs 7 on August 11, indicating a likely listing gain of 2.55%, with an implied listing price of Rs 282 per share.